Aston Barclay launches used pick-up insights to support market growth

Aston Barclay’s used pick-up data launch follows the growth in interest in the used market on the back of HMRC’s decision to announce and then disband its benefit in kind taxation for 1t pick-ups in February 2024. 

“We record sale data on pick-ups and, based on the increased interest in the sector, we have decided to share this with the industry. They account for between 8–12% of our used LCVs sold across the group,” explains Geoff Flood, Aston Barclay’s head of LCV.

“We are seeing ex-fleet vehicles going under the hammer alongside ex-recreational vehicles across our five-weekly LCV sales, so we are well placed to give a view on the market.”

Prices stay strong for single-cabs

Aston Barclay has been keeping a close eye on the sector and for every 20 double-cab vehicles it sells, it is selling just one single-cab pick-up.

Single cabs are therefore quite rare and when they do hit the used market prices are strong despite their average age. In Q1 24, on average, a single-cab pick-up was 126 months old with 76,321 miles on the clock, but it still made a healthy £7,867. 

In Q1 2024 double-cab pick-up prices averaged £11,177 at 86 months and 75,079 miles, which is the lowest for five quarters, but reflects the general fall in values across the LCV sector over the past six months. 

A buoyant market

Typically, single-cab pick-ups are run by businesses where the double-cab pick-up sector is split between business and recreational vehicles use, and this can affect replacement cycles, mileage, condition and prices.

“The new pick-up market has been very buoyant over the past 18 months with sales growing by 38.7% year on year in 2023 to over 41,000 vehicles,” explains Flood. 

“The improvement in new vehicle supply has made a positive impact on sales and, in turn, has helped increase the used volumes coming into the market. In the first four months of 2024 sales remain strong, rising by 9.6% year on year to 13,151 vehicles. This will contribute to growing used volumes over the next few years, which validates our increased focus on insights into the sector.”